Generally speaking, with SFR or small multis, I just rely on the lease/rent roll (and some form of proof of payment; i.e. bank statements, deposit receipts, tax returns, etc.). 

Vacancy is VERY expensive and can destroy returns, especially if you have to reduce rents anyways. 

Also obvious to me is this property will not produce a return that warrants the effort. 

Without the high leverage you reduce the top source of return in CA RE which is achieve via the appreciation on a high leverage property.  

Unfortunately that also lowers your return, so you might consider staggering the lower payments and rate (say 6%, then 7%, then back to 8%) over a couple of years. 

They are for a past company called Financial Attunement, where Neal was a minority partner from late 2015 to Feb 2018.

I bought vacant land, built a spec home and sold it to an end user. I know that interest on the acquisition loan can be included in the cost basis since it’s inventory. But what about the interest on a cash out refina...

In any event you can see what the SEC thinks of modernization here:https://www.sec.gov/news/press...I have read of late that small family offices can pool non-accredited investor money to qualify that entity as an accredited investor. 

Quote from @Theresa Harris: For late payments, how late are they? 

that's $100K+ in cash PLUS a solid plan to achieve for that return.